A Beginners Guide to Sage 200. Part 1: The Financials Modules

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1 A Beginners Guide to Sage 200 Part 1: The Financials Modules

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3 Introduction A Beginners Guide to Sage 200 s Financial Modules Whether you ve been using Sage products for years or are a complete newbie, our Beginners Guide to Sage 200 will take you step by step through the key areas of the software, and help make your day-to-day working life that little bit easier. This guide is perfect for new starters to your business who need to quickly get up to speed with Sage 200 or for anyone needing a walk-through on a routine that isn t carried out on a regular basis. We hope you find this guide useful, and hope that by using it you ll be able to get your work done even more quickly than you do already! 2

4 How To Use This Guide Introduction What is Sage 200 Sage 200 is a powerful business management solution used to manage complex processes across all departments, from accounts to supply chain and business intelligence. It s a flexible platform that s ideal for employees and up to 50 concurrent users. Why does my business use Sage 200 To ensure that all data necessary for the vital operation of the business is accessibly stored in a fully integrated system, creating a single view of business activities that can be shared between departments whether the user is in or out of the office. How do I use this guide Whether you are an experienced or new user of Sage products, start at the beginning of this useful guide to understand how to get started with Sage 200. When you feel prepared and ready, progress to further sections of the guide for details on the core financial processes within Sage 200. Then optimise your knowledge with some top tips for best practices towards the end of the guide. Additional information is also available at the end of this guide, outlining resources and support available from HBP Systems. If In Doubt - Hit F1 On any screen in Sage 200, hitting F1 on your keyboard will open the Sage Online Help file. This is kept up to date by Sage and includes many pages of helpful information and advice regarding Sage 200. We d advise using this feature as a first port of call. Most of your issues or queries can be fixed or answered quickly by hitting F1. 3

5 Contents Contents 1 Navigating The System General Navigation Module Structure Quick Access Icons Searching 8 2 Reporting Standard Module Reports Reporting From The List View Workspaces 11 3 Financials Module Sales Processing How To Create A New Customer Account How To Enter Direct Invoices How To Post A Sales Receipt How to Allocate Transactions To Put Customers On Hold Reversing Transactions Sales Ledger Period End Purchase Processing How To Create A New Supplier Account Automatic Payment Runs Sales And Purchase Allocation Correction How To Rectify An Allocation Sales And Purchase Contras Nominal Ledger How To Create Nominal Account How To Create A Nominal Journal To Create A Nominal Journal To Retrieve Held journals Recurring Entries Journal Templates How To Create A Journal Template Period End Nominal Year End Cashbook Cashbook Processing To Create A Cashbook Account Setting Up Standing Orders & Direct Debits To Process Direct Debits & Standing Orders Posting Transactions To Process a Bank Transfer To Do A Bank Reconciliation Fixed Assets To Enter A New Fixed Asset Running The Depreciation Calculation How To Dispose Of A Fixed Asset 42 4

6 Navigating The System 1 Navigating The System Navigation is the key when it comes to using the Sage products and once you have the basics, getting to grips with processing will be much easier. 1.1 General Navigation 1. Double click on the Sage icon on your desktop. 2. This will load the Sage front screen. There are 3 sections and depending on what your company is activated for will depend on what you will see. The structure of these sections as follows:- In Windows, from your desktop: The first section across the ribbon bar remains at all times The second section is the tree structure navigation panel down the left The third section is the main body of the screen 5

7 Navigating The System 1.2 Module Structure Example: Financials > Sales. Each module in Sage generally has the same structure as above. This makes it easier to find what it is you require and where. Click on the to expand the module into these sections. 1.3 Quick Access Icons Accounts To create/amend accounts and also put an account on stop // Tech Tip Make Navigation Easier With Favourites: Start to make note of what areas you will require so that they can be added to your Favourites page later! Enquiries Transactions Period End Routines Utilities Reports To view accounts / transactions information The core transaction processing Any routine that may need to be run prior to the close period The administration of the specific modules are carried out i.e. ledger setup Holds all default reports for the individual module. The top toolbar is a short cut to the above sections 6

8 Navigating The System The processing map also has its own area that again is a short cut to the day to day tasks. In this example we use the Sales processing screen // Tech Tip Do You Have Access: Make sure your System Administrator has given you access to every module you require. Customer List C B D E E Hint: Use your mouse scroll wheel to scroll through the customer records. // Tech Tip Customise The List View: Right click anywhere on the list and select Columns to add additional fields to the list view. A A) Tabs: display open windows. B) Search list: enter text to find an account C) Filters: select any pre-defined filters to display accounts that match that criteria D) Reports: run reports for the highlighted accounts only E) Sorting: click on the column headings to sort by that field F) Spooler 7

9 Navigating The System 1.4 Searching There are a number of ways to look for records in the system which is all dependent on how you personally prefer to use Sage. The following is a list of different ways to find records once on the relevant processing screen. 3. Enter text into the search field and press enter. This will find information anywhere in the list (except account balances) 4. Use the Mouse scroll to scroll through the records. 5. Right click inside the list and use FIND to search for information 6. Type the first few letters of the account code 8

10 Reporting 2 Reporting Reporting is a major aspect of the system and there are a number of different options that can be used to report on in each module. These are: 1. Standard Module reports 2. Reports from the List View 3. Workspaces Reports are such a key aspect as it allows you to easily see the data entered and they can also be used for confirmation on what has been entered. They are also a key area to check that your figures are correct by looking at what has been output compared to accounts such as nominal Accounts. Outputting Reports When you print from Sage 200 you can choose whether you would like the report to appear on the screen, send to the printer or saved in a Spooler. This must be selected before submitting any reports. Select the Tools menu > Choose Output Mode 2.1 Standard Module Reports Each module throughout Sage has a reports section which will hold a number of standard reports which are available for users to output as necessary. There, reports will have different filter available so that they can be set per day / selection / period etc. To run a report simply open the report folder and click the report you wish to run 9 This setting is per user & users have the facility to delete spool files.

11 Reporting For Example: - Sales Ledger > Reports > Account Analysis > Daybook Hint: Select the variable IN to choose more than one option. // Tech Tip Would you find it useful if these reports could be exported into Excel When the report has been published you can select the output media from the toolbar :You can as a PDF, export to Excel or CSV or print as normal. Quick Entry: Click on the pencil to the right for quick entry date range. 2.2 Reporting From The List View The same reports are available from the List View option as the Standard module however they only print for the selected accounts. Firstly select the accounts you wish to include in the report (Highlighted in green) Then select the Reports button from the toolbar Hint: This method can be used to send statements to a selected number of customers. 10

12 Reporting 2.3 Workspaces Workspaces in Sage 200 provide an overview of the primary information stored in Sage 200 for each module. Use workspaces to find and analyse important information. Each workspace usually has a master list which is connected to other panels containing details or linked information about a selected item in the master list. When an item is highlighted in yellow, information about this item is displayed on other panels. This can be further details about the selected item, information about linked items in another list such transactions for a customer account, or information displayed as a chart. Hint: Use the Credit Control workspace to make enquiries about customers with outstanding debts. Only those customers with an overdue balance are displayed. To access the Workspaces select the option from the menu: - 11

13 3 Financials Module So, you now have the General Basics of navigating the system. Next is to start using it The financials section consists of Sales, Purchase, Nominal and Cashbook. Each module is different in the information it holds but the physical Processing of the data is relatively the same, once you get to grips with one module the rest will follow on. This section will go through some of the general processes throughout each module. 3.1 Sales Processing How To Create A New Customer Account Navigate To: Sales Ledger > Sales Accounts >Enter New Account Complete each tab and then click SAVE. Hint: Make use of the short name, which allows easy searching within the system when looking for a record. 12

14 3.1.2 How To Enter Direct Invoices Navigate To Either: Sales Ledger > Enter Transactions >Invoice - or use the Invoice Button on the toolbar menu. By direct invoices, we mean invoices for goods and/or services sold to the customer which do not involve SOP, Invoicing or Stock modules, and for which the original invoice document has been created outside the system. If you have the Costing module, you can analyse invoices to jobs, phases and revenue type cost codes to update transactions in the Costing module. 7. Sales Ledger->Enter transactions->invoice 8. Search for the customer entering either the account code, short name or postcode 9. Enter the Goods value and the VAT is automatically calculated 10. On the Nominal & VAT Analysis select the nominal code, cost centre and department 11. If linked to the Costing module click on the Project Analysis tab 12. Click Save to store the invoice. 13

15 3.1.3 How To Post A Sales Receipt. Use the Receipt button on the toolbar menu of the Customer List to record details of payments received from customers. You can also allocate the receipt against outstanding transactions for the customer, and mark transactions as being disputed. If you do not want to allocate a receipt at the time of posting, select the SAVE option. You can allocate it later using the Allocate command. Navigate To: Sales Ledger > Enter Transactions > Receipt. 1. Select the bank account this receipt is to be posted to and press the TAB key to continue 2. Search for the customer account 1. Sales Ledger-> Enter Transactions-> Receipt 2. Select the bank account this receipt is to be posted to and press the TAB key to continue 3. Search for the customer account 3. In the boxes provided enter the receipt details 4. Click Save and allocate and the outstanding transactions will appear It is important to remember to change the allocation date to match the receipt date ensuring that the Aged Debtors report will be correct at the month end. 14

16 // Tech Tip Transactions on Query: Transactions on query will be shown in the column: You can also put a transaction on query in the allocation screen If you have only posted the Receipt to account or need to allocate a Credit and invoice together, you will then need to use the Manual allocation command How to Allocate Transactions Navigate To: Sales Ledger > Enter transactions > Allocation. 1. Enter the amounts to allocate and when the difference is zero click SAVE Hint: To save time you can click on the allocate button or double click in the Allocate field and the system will automatically enter the full value of the transaction. 15

17 3.1.5 To Put Customers On Hold To put a customer on hold, simply tick the On Hold button Reversing Transactions Certain transactions in Sage 200 can be reversed. The ability to do this will be dependant on your user permissions. As expected, transaction dates cannot be amended. Navigate To: Sales Ledger > Adjust Transactions > Reverse Transaction Highlight the transaction and click REVERSE The original transaction and the reversal will be automatically allocated 16

18 3.1.7 Sales Ledger Period End. At the end of each accounting period, you must use the Maintain Accounting Periods to close the period in order to tidy up your system and move forward into a new month. This is carried out in the Accounting System Manager section. Check whether you have transactions waiting to be posted by running: Report Pending Transactions, Sales Ledger > Period End Routines. 1. Run the Update Pending Transactions routine. 2. Allocate as much cash as possible on all open item accounts. 3. Run the Finance Charges routine to calculate interest on overdue accounts, if applicable 4. Print / statements 5. We recommend you produce any period reports you want before you use the Close Period command. You should also take a backup of your data files. To Close the Period select: Accounting System Manager > Accounting Periods > Maintain Accounting Periods 6. Select the period you wish to close, this will be marked as open 7. Click Change Period Status and then click OK If the next period is closed, it will open automatically. 17

19 3.2 Purchase Processing Hint: How To Create A New Supplier Account All screens are nearly identical to the Previous Sales processing section. Navigate To: Purchase Ledger > Purchase Accounts > Enter New Account 1. The Add New Supplier form is displayed. 2. In Account Code, type a unique code to identify the supplier record. Account numbers must be unique. 3. In the boxes provided, enter the supplier details. 4. Click SAVE. For the next set of processes, these follow the exact same trend and screen as the Sales Ledger options. Payments, Refunds, Allocations & Credits are all run from: Purchase Ledger > Enter Transactions. Period End is run from within Accounting System Manager 18

20 A further part to the Purchase module is the Payments section. This allows the user to automate creating payments to your suppliers based on the date due. This routine will then create a file which can be uploaded through your banking software Automatic Payment Runs You can generate a list of suggested payments for unpaid invoices on your supplier accounts and process the payments: - Generate Suggested Payments File View & Amend Suggested Payments Hint: Ensure the supplier account is set to be paid by BACS: - On the payment tab ensure the payment group is correct and also complete the bank details on the bank tab. Delete Suggested Payments Process Payments Invoices are not included or payments made: If a supplier is on hold. If an invoice is under query or dated after the payment date. Where payments would exceed the maximum cheque value allowed. These procedures are all under the same menu: Purchase Ledger > Period End Routines > Payment Processing. 19

21 1. Generate suggested payments, using the correct remittance date. The system will automatically calculate which are due by using this date. Payment terms for each supplier are held against the supplier record, and due dates are calculated by Sage 200 when entering the Invoice date. 2. Amend suggested payments. Select the supplier and then amend the payment values for the required transactions. To remove a transaction marked for payment set the payment value to zero. To change the amount of the invoice to be paid, change the Payment value. To add or change the discount applied to the invoice, change the Discount value. To remove a supplier account from the suggested payments file, click Pay None To generate a payment for the supplier immediately, click Pay Now. This processes the payment Hint: If the total cheque value exceeds the maximum payment value, you will see a yellow warning highlight. 20

22 3. Process the Payments Selecting Generate Payments will update the entries in the suggested payments file as paid, the remittances are ed/printed and if you are using the e-banking facility a file is generated.. Hint: Take extra care when selecting the bank account you want to use -to reverse the process once complete would be manual and time-consuming! 4. Delete suggested payments to ensure you are ready for next time. 21

23 3.3 Sales And Purchase Allocation Correction Amend Allocation allows users to correct mistakes made when allocating in both the Sales and Purchase Ledgers. That is, to correct an allocation that was posted in error How To Rectify An Allocation Navigate To: Adjust Transactions > Amend Allocation > Enter the Customer/Supplier Account Hint: You cannot change allocations for Balance forward or Automatic allocation accounts. Select: Adjust transactions > Amend Allocation & Enter The Customer/Supplier Account 22

24 3.4 Sales And Purchase Contras You can perform a contra entry on both the Sales Ledger and the Purchase Ledger. To Complete This Navigate To: Enter Transactions > Contra Entry To contra the amounts, select the corresponding Sales and Purchase Ledger accounts and select the necessary transactions on each Ledger. When the invoices are selected the total amount, calculated as a positive or negative value, is displayed. Once you save the contra entry, payment and receipt transactions are generated and allocated to the invoices. They are given a reference of Contra. The balances on the accounts in Sales and Purchase Ledgers are adjusted and the appropriate nominal accounts in the Nominal Ledger are updated. 23

25 3.5 Nominal Ledger The nominal ledger for most accounts systems is the Heart of the whole process. All modules post into the Nominal ledger to provide the years accounts. Each module will link to the Nominal ledger in a number of ways and should always match the Nominal Records / Balances. The Nominal is completely Date driven where a transaction can not be posted to a period without being the correct date. Any dates outside of the current period will not post until the Nominal reaches that relevant date range / period after a period end. Before any processing is allowed, the Nominal accounts must first be created. This will then make the Nominal structure of the accounts and as a result, populate the Trail Balance. It should also match the account expected in your Profit & Loss / Balance sheet for your Accountant. Before creating a new account, the Report Category must but be created which defines where the account will appear on the Management Reports. This is found in: Nominal Ledger > Utilities > Ledger Setup > Report Categories How To Create Nominal Account Navigate To: Nominal Ledger > Nominal Accounts > Enter New Account // // Tech Tip Memo Account Types: An account can be setup with an account type of memo. This type of account provides additional analysis. They are not included in the totals for financial statements but can be reported on Tech Tip Group Account Types. Group accounts are used for reporting purposes only. You can associate budgets to these accounts for budget comparison but you cannot make postings to them. 1. Enter a unique code and if applicable a cost centre and department 2. In the boxes provided enter the details. 3. Budgets can be manually entered on the second tab 4. Click SAVE to store the record 24

26 3.5.2 How To Create A Nominal Journal The total of all debits and credits within a journal must balance before it is posted, however, you can create and hold a journal record that does not balance, even though you cannot create postings from it. You can subsequently retrieve the journal for amendments before it is used. There are three types of journals: - Single entry Reversing entry Recurring entry 25

27 3.5.3 To Create A Nominal Journal Navigate To: Nominal Ledger > Enter Transactions >Journal Entry 1. Select New Journal Entry to create a new journal for your entries or select Use Template to create a journal based on a saved template 2. In the boxes provided, enter the journal header details. 3. Click in the Journal Transactions area and the first journal line appears 4. In the boxes provided, enter the journal details. 5. When you have completed the detail lines, click Post to commit the journal to the ledger or Hold to suspend the journal until required. Hint: If you include a memorandum account in the journal, the value of the posting to the memo account is not included in the batch totals To Retrieve Held journals Navigate To: Nominal Ledger > Enter Transactions >Held Journals // Tech Tip Reversing Entries. Selecting the Reversing Entry option allows you to enter a date that the journal will be reversed. 1. Highlight the required journal and click Process Recurring Entries This option lets you make the same journal entry several times on different dates. Once you commit this type of journal to the ledger, the routine posts all the recurring entries to the deferred waiting postings file where they are held until their posting date falls into an open period. 26

28 3.6 Journal Templates Use journal templates to create a library of reusable journals. Each journal template can be amended or deleted when required. You can create a journal with or without values in the debit and credit boxes. You can specify percentages instead of values. This is useful should you need to create journals that automatically apportion an amount across several transaction lines, such as distributing an expense across cost centres or departments. If you create a journal without values, you are prompted to enter values at the time you use the journal to post transactions. If you create a journal template that uses percentage terms, you need only enter one figure when processing the journal and the remaining values are calculated automatically. Hint: Think about creating Journal Templates for recurring monthly entries, e.g. Wages, Rent etc How To Create A Journal Template Navigate To: Nominal Ledger > Enter Transactions > Journal Templates 1. To create a new template Click Add or to edit an existing template 2. Click Edit. 3. Enter a journal name and specify the journal type: - Accounts Only - Do not specify any amounts Percentages - Enter % in the debit and credit column (both must be 100%) Value - Enter a value in the debit & credit (the totals must match) 27

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30 3.7 Period End As you move through the financial year, you must close and open your accounting periods. Closing accounting periods is done in Accounting System Manager, however there are various tasks to perform in each module before closing each period. You can adapt the following to make a period end check list for your own business requirements, adding your own items if required, but you must perform the preparatory tasks in each module before closing a period for that module. Enter all transactions for the current period to be closed Setup and template journals required for period end processing Enter and periodic journals (e.g. prepayments, accruals) Perform preparatory tasks in Sales Ledger Perform preparatory tasks in Purchase Ledger Perform preparatory tasks in Cash Book Perform preparatory tasks in Stock, SOP and POP Ensure you have printed and checked all relevant modules reports required for end of period routines, including the VAT report and VAT Return Check to see postings that are yet to be updated to the nominal accounts, by running View Waiting Postings in the Nominal Ledger. Run Update Waiting Postings in the Nominal Ledger. Print and store your Transaction Audit file for the month in the Nominal Ledger. Balance your ledgers for the period to ensure that system integrity is maintained. (Optional)Tidy up transactions on accounts in all modules by deleting any completed transactions. Take a backup of your data. Finally, close the accounting period you require for the Sales and Purchase Ledgers, Cash Book and Stock Control module. Closing a period automatically opens the next one, if it is a Future period. Close the Nominal Ledger Last 29

31 3.8 Nominal Year End Hint: Navigate To: Nominal Ledger > Period End Routines > Year End At the end of each financial year, you must use the run a Year End to perform the following actions: An entry is made to the Accumulated Profit nominal account. A report is produced showing the Profit and Loss values transferred to the Accumulated Profit nominal account. The this period and year to date figures are set to 0 (zero) for Profit and Loss accounts. The Nominal Ledger accounts are ready for processing transactions for the new financial year The period number in all the Financials modules is set to 1 (one). The routine produces a balancing journal (the difference between the debit and credit balances on each Profit and Loss account) that represents the retained Profit and Loss for the year and posts the value to the accumulated profit nominal account. Before performing year end, you should ensure that the final period end for the financial year has been completed. This ensures that all the necessary postings have been made in the ledgers. A report is produced showing the credit and debit year to date values for each account and the value of the entry made to the account for Profit and Loss. This report should be retained for auditing purposes. Take a backup of your Nominal Ledger data immediately after running the Year End routine and before you begin making postings in the new financial year. Also print a Trial Balance and check the account balances in the report before you starting entering transactions for the new financial year.. You must open the required periods before transactions for the new year will appear in the Nominal Ledger. Hint: Once you have run the Year End routine you can only make postings that affect the last year balances using the Previous Year Journal Entry routine. 30

32 3.9 Cashbook The Cashbook is a fully integrated module giving constant, up-to-date information on any number of bank and petty cash accounts that have been created within the Nominal Ledger. As well as detailed information on what has been posted from the Sales and Purchase ledgers, it also gives you the ability to post transactions to Sales / Purchase and Nominal from the Cashbook. The following Diagram shows what transactions will effect the cashbook:- Nominal Ledger Receipts, Payments & Refunds Cashbook Sales Ledgers Receipts & Refunds Purchase Ledger Payments & Refunds Each cashbook account also has the option to be held as a foreign currency account. This allows the bank balance to be held and displayed in the currency selected as well as the Home currency. The cashbook also shows a detailed breakdown of the current balance and displays a reconciled / un-reconciled and current balance. The reconciled value is the total which has been matched against the actual bank statements using the Reconcile function. The current balance should always be the difference between reconciled and un-reconciled value. 31

33 3.10 Cashbook Processing There are a number of processes that can be carried out in the Cashbook module. One which may not be required very often but is a necessity is creating a cashbook account To Create A Cashbook Account Navigate To: Cash Book > Cash Book Accounts > Enter New Bank Account 1. Associate the Cash Book with the relevant Nominal Account 2. Select the E-Banking tab to select your bank from the list. You can use E-Banking to pay your suppliers electronically, automatically reconcile your bank account, pay your VAT return electronically. 32

34 Setting Up Standing Orders & Direct Debits You can use a direct debit to spread a total payment value over a set number of periods. Standing orders are used to record regular payments where the overall duration of the term is unknown. Navigate To: Cash Book > Standing Orders & Direct Debits > Maintain Standing Orders & Direct Debits To Process Direct Debits & Standing Orders Navigate To: Cash Book > Standing Orders & Direct Debits > Process Standing Orders and Direct Debits Enter the date you want the transactions processed to Hint: The payment date is adjusted to compensate for week-ends. If the required payment falls on either a Saturday or Sunday, the transaction is generated for Monday. 33

35 Posting Transactions There are a number of transactions that can be posted from the cashbook module which can be time saving if a user does not usually process in the financial ledgers or if the bank reconcile is being run a missing payments / receipts are found. The transactions which can be posted are: Sales Receipts and Refunds Purchase payments and refunds Nominal Payments or receipts Cashbook bank transfers Grouped Transactions.. Example 1:- Navigate To: Cash Book > Payments & Receipts > Nominal > Nominal Vatable Payment 1. Select Adjust transactions > Amend Allocation 2. Enter the customer/supplier account 3. Retrieve the bank account record for which you want to post transaction details, 4. Enter the details as required in the header section 5. Select Nominal & VAT Analysis to enter the line details 6. Click Save 34

36 Example 2: Navigate To: Cash Book > Payments & Receipts > Sales & Purchase > Sales Receipt 1. Retrieve the bank account record for which you want to post transaction details 2. Select the customer account 3. Click Save and Allocate to allocate the receipt or click Save to allocate 4. Another transaction type that can be posted is a bank transfer. Hint: If the cheque currency is different from the bank currency you must also enter the Exchange rate and Bank charges for the receipt. Bank charge details are in the same currency as the bank account. A bank transfer can be created between two bank / petty cash accounts It records the movement of money from one bank account to another To Process a Bank Transfer Navigate To: Cash Book > Other Transactions > Inter Account Transfer 1. Select the payment account bank account from the drop down list 2. Select the receipt account bank account form the drop down list 3. Enter the transfer details 4. Enter the commission and nominal posting details, only applicable for foreign currency transfers 5. Click Save 35

37 Q - What is a Grouped Transaction A - A Grouped transaction is a value which may be made of a number of individual transactions which you only wish to see 1 value on the bank rather than multiple. An example of this would possibly be a cheque payment. When physically cashing cheques, there may be a number of them to cash in one go. When cashed, these will only show as 1 value on the bank. To save confusion, you may want the same single value to show on the cashbook so that when reconciled, they are easily identified. Hint: Grouped Transactions is ideal when you need to process many transactions of the same type at the same time. Once all transactions have been posted, the bank can then be reconciled against a true bank statement compared the to cashbook reconcile utility. This then makes sure that it is a true representation and can easily been seen if transactions are missing from the un-reconciled balance or anything from the Bank statement itself. 36

38 To Do A Bank Reconciliation Navigate To: Cash Book > Period End Routines > Bank Reconciliation 1. From the drop down select the bank you wish to reconcile 2. Enter the statement date - This is the ending date on your printed bank statement 3. Enter the page number of the statement being reconciled 4. Check the statement opening balance matches the opening balance on the bank statement 5. Enter the projected closing balance. This is the closing balance on your printed bank statement 6. By default only unreconciled transactions are shown 7. To reconcile a transaction select the statement value check box. The reconciled amount appears in the Statement Value column. Hint: If it does not balance, you can save what you have done so far so you can return to complete the process at a later date or clear the reconciliation which enables you to re-enter it from scratch. // Tech Tip Add A New Transaction To The Bank Account. To add a new transaction to the bank account select the transaction type from the drop down. The relevant transaction entry window will then appear.. Hint: Reconcile Several Concurrent Transactions AUTO SELECT - click this to select all payments and receipts as reconciled up to and including the statement date When the reconciliation is finished a report is printed. This shows all the reconciled transactions and those that have not been matched.. 37 To save the bank reconciliation select one of the following options: - SAVE DRAFT - Select this to save an incomplete bank reconciliation. Enter a reference. This allows you to recall the reconciliation at a later date. RECONCILE - Select this to complete the reconciliation. If the closing balance does not match the projected closing balance a warning is displayed.: ALL TRANSACTIONS - click Select All. All the statement value check boxes are selected and the closing balance is updated. A RANGE OF TRANSACTIONS IN SEQUENCE - Select the first date in the range, hold down SHIFT and select the last date on the range. Select the statement value check box on the first transaction. This selects all transactions in the range you have specified.

39 3.11 Fixed Assets New in Sage is the ability to control your Fixed Assets. The Fixed Assets module allows you to keep a complete register of assets, from their initial acquisition through to disposal. There are two depreciation methods that can be calculated by the system, straight line or reducing balance and both of these can be applied annually or each period. The first option which may be used in creating a new Fixed Asset To Enter A New Fixed Asset Navigate To: Nominal Ledger > Fixed Assets > Enter New Asset. Hint: Fixed assets do not become active until all the depreciation details have been entered. An asset cannot be depreciated or disposed of until it is active. 1. Enter a unique Code for the asset. 2. Enter a Description for the asset. 3. Enter the asset s Initial value. This cost price is used to calculate the depreciation amount for straight line depreciation. 4. Select the asset purchase date in Date acquired. 5. The Last depreciated date is updated by the system when the asset depreciation is posted. When you are creating the asset this will be blank. 6. Enter the Depreciation Details 7. Enter the current Net Book Value 38

40 8. Select a balance sheet and profit and loss account for depreciation postings. 9. For straight line only enter a residual value and asset life span. 10. For reducing balance only enter a depreciation percent. 11. Enter Analysis Details 12. Click Save Once an asset has been created, the next step will be to begin the depreciation based on the start date / Method and expected life which is selected when the asset is created. The Depreciation Calculation can then be run for all active assets. 39

41 Running The Depreciation Calculation Navigate To: Nominal Ledger > Fixed Assets > Depreciate Asset. Hint: This posts for the current year or period in the current year, not for previous years, regardless of the date acquired 1. A list of assets are displayed, showing the: Code Description Last Depreciated Date Depreciation Method The Depreciation Amount is populated when you select the asset. If you are depreciating annually, and the Last Depreciated date is within this financial year, the asset will not be shown in the list because it has already been depreciated. Also, if the asset is being depreciated using a straight line depreciation method, the asset will not be listed if the Net Book Value is less than or equal to the Residual Value.. 2. Select the Depreciation Period. This is the period up to which you want to calculate depreciation. This defaults to the current period but you can select a future period if you want. You may, for example, have assets that are depreciated monthly but that you want to post quarterly. All postings that are in future periods are posted into and held in the deferred postings file until the period becomes current. If you are depreciating by period, an asset won t be listed if it has already been depreciated in the Depreciation Period you have selected.. 3. Select the assets that you want to depreciate. 40

42 4. Click Depreciate. 5. Select the Depreciation Transaction Date. This is the date you are depreciating the assets. This defaults to today s date. If you are depreciating by period, the nominal postings will have the end date of each period you are posting for. The Last Depreciated date on the asset will be the end date of the last of these periods. If you are depreciating annually, the nominal postings will have the end date of the last period in the year. The Last Depreciated date on the asset will be the end date of the last period in the year. 6. To depreciate, click Depreciate. Nominal postings are made as follows: Annual depreciation methods: A single nominal posting is made for annual depreciation at the end of the financial year. Period depreciation methods: A posting per period depreciated. The depreciation Disposing of an Asset If you dispose of an asset before the posting is credited to the Balance sheet account, the Net Book Value reflects the amount remaining to be credited to that account. Thus the disposal will only post the remaining amount and not double post any value 41

43 How To Dispose Of A Fixed Asset Now that the Assets has been depreciated, there may be times where as a user you will need to dispose of an asset. Navigate To: Nominal Ledger > Fixed Assets > Dispose Asset 1. A list of assets are displayed. 2. Select the Asset that you wish to dispose of. 3. Click Dispose. 4. Select the Disposal Transaction Date. 5. Click Dispose Hint: If an asset has depreciated to a value of 0 (zero) then you do not need to dispose of it but can delete it. 42

44 Resources & Support Information Resources & Support Information As a leading Sage partner we are fully accredited to provide support for new and existing users of Sage 50 & Sage 200 including all supporting modules. Our team of expert support and projects staff manage a wide range of businesses using products and can assist with everything from day-to-day issues, through to training and system upgrades. A support contract with HBP Systems includes unlimited telephone and support as well as free payroll upgrades at year end. We offer a proactive service and on a monthly basis produce Sage helpsheets aimed at tackling common and topical issues for end-users. To see our full range of Sage 50 & Sage 200 helpsheets visit Helpsheet 031 Sage 200 page 1 / 2 page 1 / 1 Helpsheet 031 Sage 200 Deleting Projects in Project Accounting You can only delete a project when: The project status allows the project to be deleted. You can delete projects with a status of <Not Applicable> or a status that is set to Allow Archive / Delete. -or- The project does not have any transactions posted to it. To delete a project record Open: Project Accounting > Projects > Delete Project. The Delete Project window displays a list of projects that can be deleted. To search for a project in the list, click Find. To check the status of a project, select it and click View Project Status. To view the project record, select it and click View Project Record. To delete a project, select it and click Delete. Allocating and Building BOMs There are two ways you can approach building BOMs in Sage 200. You can: Allocate stock for the BOM first and build from the allocation later Use the New Allocation option to reserve the stock items that you require to build the BOM. You can undo the allocation if you find you do not need to build the item. From New Allocation, by clicking OK and Confirm, you can confirm the locations from which stock is allocated, and if you are using traceability, you can select the batch and serial numbers allocated. You can use the Trial Kitting enquiry before building to test the stock levels required to build. You can access the stock allocation process from Trial Kitting. Use View Allocation to view what has been allocated against a particular allocation. Use Undo Allocation to fully or partially undo an allocation as long as the allocation has not been fully built. Use Print Picking List to view or print the list that can be given to the warehouse staff so they can make up the BOM. Use Amend Picking List to change the stock locations and serial numbers allocated in a previous picking list. Helpsheet 031 Sage 200 Bill of Materials Viewing Cost Breakdown Open: Bill of Materials > Processing > Cost. Open: Bill of Materials > Records > Amend Bill of Materials Cost. Select an item in the list. Click View Breakdown or View Cost Breakdown, depending on whether you are following the cost process or accessing the breakdown from the BOM record. The Cost Breakdown window appears. To expand the breakdown to include cost headings, components and operations: Click by the Reference to expand an item. Click Expand All to expand all items. To collapse the breakdown: Click by the Reference to collapse an item. Click Collapse All to collapse all items. page 1 / 2 Use Confirm Build to build the product from the allocated stock. To view detailed breakdown, click Detailed View SageSupport@HBP-Group.co.uk The finished stock is updated with accurate quantities for manufactured items. part of the HBP Group SageSupport@HBP-Group.co.uk SageSupport@HBP-Group.co.uk part of the HBP Group part of the HBP Group 43

45 HBP Systems Limited are a leading provider of IT and Accounting & ERP Software solutions to the Humber region. We pride ourselves in our ability to help businesses achieve their full potential and we do this through the continued training and support of all our staff. This is what we stand for. We aim to be the best at what we do, and go beyond our rivals to help our customers. 7d Priory Tec Park Saxon Way, Hull East Riding of Yorkshire HU13 9PB info@hbpsystems.co.uk Woodhouse Road Scunthorpe North Lincolnshire DN16 1BD info@hbpsystems.co.uk hbpsystems.co.uk